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Australia’s import prices fell 1.1% quarter-on-quarter in Q3 2026, reversing a 5.7% increase in Q2 and missing market expectations for a 1.3% rise. The decline was the first since Q3 2025, driven by an 8.7% drop in petroleum and related products as lower oil prices reflected improving global supply following a gradual reopening of the Strait of Hormuz. Fertiliser prices excluding crude plunged 20.2%, reflecting lower urea and potassium chloride prices amid resumed Chinese exports and easing shipping disruptions. Also, non-monetary gold prices fell 5.0%. In contrast, office and automatic data processing (ADP) machinery prices rose 7.3%, supported by demand for data centre, cloud computing and AI-related equipment, as well as elevated manufacturing and supply-chain costs. Telecommunications equipment prices increased 4.1%, reflecting strong demand for high-performance devices and higher component costs.

Australia's import prices surged 5.7% quarter-on-quarter in Q2 2026, far exceeding market expectations for a flat reading and accelerating sharply from a 0.1% increase in Q1. The latest result marked the third consecutive quarterly rise and the strongest pace since Q4 2021. The upturn was driven primarily by petroleum and related products (47.1%), as the closure of the Strait of Hormuz disrupted global supply and pushed up oil prices. Fertilisers (25.1%) also recorded strong gains amid higher urea prices, while plastics in primary forms (26.3%) increased on firmer polyethylene prices. Higher crude oil and petrochemical costs continued to filter through supply chains, raising production costs for plastic manufacturers. Partly offsetting these increases was a 9.1% decline in non-monetary gold, as expectations of tighter monetary policy and higher bond yields outweighed safe-haven demand, weighing on gold prices during the quarter.

Australia's import prices edged up by 0.1% quarter-on-quarter in Q1 2026, defying the expected 0.6% fall, though marking a slowdown from a 0.9% rise in Q4 2025. The softer growth was largely due to a 5.1% drop in the cost of office and ADP equipment, reflecting the appreciation of the Australian dollar, which has made imported goods cheaper. Road vehicle prices also declined by 1.1%, weighed down by annual pricing adjustments for existing models. In contrast, prices for petroleum and related products surged 9.8%, as disruptions linked to the closure of the Strait of Hormuz constrained global supply and pushed oil prices higher. Non-monetary gold prices also jumped 10.7%, underpinned by sustained demand from investors and central banks seeking safe-haven assets amid heightened geopolitical tensions and economic uncertainty. Similarly, non-ferrous metals rose sharply by 16.5%, driven in part by a rally in silver prices, as market volatility boosted demand for safe-haven assets.

US import prices rose 0.2% from the previous month in January 2026, following a similar advance in December, as increases in non-fuel goods offset a decline in energy prices. Excluding fuels, import prices rose 0.5%, while prices excluding petroleum increased 0.5%. Gains were seen across several categories, including foods, feeds and beverages up 0.2%, industrial supplies and materials up 0.9%, automotive vehicles up 0.2%, and consumer goods up 0.1%. These increases were partly offset by a 2.2% fall in fuels, driven by a 2.7% drop in petroleum. Year-on-year, import prices decreased 0.1% in January, after remaining unchanged in December.

US import prices rose 0.1% from the previous month in December 2025, in line with expectations, as increases in non-fuel goods offset a decline in energy prices. Excluding fuels, import prices rose 0.2%, while prices excluding petroleum increased 0.4%. Gains were seen across several categories, including foods, feeds and beverages up 0.5%, industrial supplies and materials up 0.4%, automotive vehicles and parts up 0.2%, and consumer goods excluding autos up 0.4%. These increases were partly offset by a 0.8% fall in fuels and lubricants, driven by a 3.3% drop in petroleum and petroleum products. Year-on-year, import prices were unchanged in December, after a 0.1% decrease in November.

Australia’s import prices increased 0.9% quarter-on-quarter in Q4 2025, defying market expectations of a 0.2% decline and reversing a 0.4% fall in Q3. It also marked the first increase in three quarters, as gold, non-monetary, surged 19.7% on safe-haven demand as investors and central banks built reserves. Meanwhile, crude fertilisers and minerals jumped 42.5% after sulphur hit record highs amid supply constraints and strong clean energy and agricultural demand. Metalliferous ores and scrap climbed 11.5%, driven by reduced zinc output from Chinese smelters and depleted inventories. Also, road vehicle prices rose 2.9% following annual reviews that lifted import costs. In contrast, telecom equipment prices fell 4.5%, as quality gains in new models and cheaper imports of older phones offset higher list prices. Overall, the rebound highlights commodity-led pressures on Australia’s trade costs, even as select sectors like technology provided relief.

US import prices increased 0.4% over the two months through November 2025, reversing revised declines in August and September, according to delayed data from the Bureau of Labor Statistics. Separate figures for October and November were unavailable due to last fall’s federal government shutdown. Over the two-month period, nonfuel import prices rose 0.6%, while fuel import prices fell 2.5%. On a year-over-year basis, import prices edged up 0.1% in November, driven by a 0.7% increase in nonfuel imports. Higher prices for nonfuel industrial supplies and materials and capital goods more than offset lower prices for automotive vehicles and foods, feeds, and beverages. Meanwhile, fuel import prices declined 6.6% year-on-year, the steepest drop since August 2025, reflecting an 8.4% fall in petroleum prices.

Prices of goods imported to the Untied States were unchanged from the previous month in September of 2025, after a downwardly revised 0.1% increase August, and marginally lower than a 0.1% increase expected by markets, according to a delayed report by the US BLS. It was the third straight month without declines in import prices, indicating that foreign companies refrained from lower costs after tariffs by the Trump presidential administration were raised at the start of the third quarter. Prices for imports of non-fuel goods rose by 0.2%, the third increase, amid higher costs of nonfuel industrial supplies and materials and consumer goods. These offset the 1.5% drop in prices of fuel goods, tracking lower global prices for petroleum goods due to the ample supply of crude oil. From the previous year, import prices rose by 0.3%.

Australia’s import prices fell 0.4% quarter-on-quarter in Q3 2025, exceeding market expectations of a 0.3% decline and easing from a 0.8% drop in Q2. This marked the second consecutive quarterly fall. Key contributors to the decrease included telecommunications equipment (-3.4%), as existing models were imported at lower prices, and general industrial machinery and equipment (-2.6%), driven by the Australian dollar’s appreciation against the U.S. dollar. Coffee, tea, cocoa, and related products also dropped 9.2%, following a reversal in cocoa prices, which are now recovering due to improved supply from West Africa and Ecuador. Offsetting the fall were petroleum products (3.5%) amid rising U.S. demand and Middle Eastern supply concerns, fertilisers (10.4%) on tight global supply and strong agricultural demand, and gold (3.1%) due to investor interest amid economic uncertainty.

Prices of goods imported by the United States jumped by 0.3% from the previous month in August of 2025, extending the revised 0.2% increase from June and contrasting sharply with market expectations of a 0.1% drop. It was the sharpest increase since January, indicating that foreign companies refrained from lowering costs following the tariffs passed by President Trump administration, as the index does not include taxation on goods. Prices for non-fuel imports surged by 0.4% following the stall in the previous month, the most aggressive increase since April of 2024. Meanwhile, prices for fuel imports fell by 0.8% following the 2.5% surge in July. From the previous year, import prices were unchanged.

Australia’s import prices fell by 0.8% quarter-on-quarter in Q2 2025, exceeding market expectations of a 0.5% decline and reversing from a 3.3% surge in Q1, which was the fastest increase in three years. This marked the first quarterly contraction since Q3 2024, driven primarily by a sharp 11.5% drop in prices for petroleum, petroleum products, and related materials. The decrease reflected excess global supply from OPEC+ and weaker demand amid slowing manufacturing activity and the ongoing transition to green energy. Offsetting the fall was a 12.5% rise in non-monetary gold prices, as global uncertainty boosted safe-haven demand and central banks continued to build reserves. The appeal of gold was further supported by U.S. Fed rate cuts, which lowered the opportunity cost of holding the metal. Additionally, road vehicle imports rose 1.3%, driven by higher prices for existing car models, though gains were partially offset by the appreciation of the Australian dollar.